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  3. Latvia

Economy of Latvia. Statistics, Data and Indicators

flag
Latvia
69A- Credit rank #39
N/A Quality of life #
44 Corruption rank#41
19 Ease of doing business#19
Latvia


Latvia Major Economic Indicators

Indicator Data Period
GDP Value 35.8 USD Billion 2019
GDP Annual Growth Rate 1 % 4Q/19
GDP Growth Rate 0.1 % 4Q/19
GDP per capita 16406 USD 2018
Inflation Rate YoY 1.4 % Mar/20
Interest Rate 0 % Mar/20
Unemployment Rate 6 % 4Q/19
Wages 846 EUR/Month | 918.806 USD/Month Dec/19
Balance of Trade -93 EUR Million | -0.101 B USD Jan/20
Current Account 180 EUR Million | 0.195 B USD Jan/20
Foreign Exchange Reserves 4173 USD Million | 4.173 B USD Feb/20
Government Debt 11031 EUR Million | 11.98 B USD 3Q/19


GDP
vvp
35.8
USD Billion
#99 from 174 countries
GDP per capita
vvp
16406
USD
#47 from 169 countries


GDP Indicators

Indicator Data Period
GDP Value 35.8 USD Billion 2019
GDP Annual Growth Rate 1 % 4Q/19
GDP Growth Rate 0.1 % 4Q/19
GDP per capita 16406 USD 2018
Gross National Product 7868 EUR Million | 8.545 USD Billion 4Q/19
GDP Constant Prices 7326935 EUR Thousand | 7.957 B USD 4Q/19
GDP per capita PPP 26437 USD 2018
GDP From Agriculture  166338 EUR Thousand | 0.181 B USD 4Q/19
GDP From Construction  493678 EUR Thousand | 0.536 B USD 4Q/19
GDP From Manufacturing  750119 EUR Thousand | 0.815 B USD 4Q/19
GDP From Mining  215494 EUR Thousand | 0.234 B USD 4Q/19
GDP From Public Administration  623143 EUR Thousand | 0.677 B USD 4Q/19
GDP From Services  951880 EUR Thousand | 1.034 B USD 4Q/19
GDP From Transport  548677 EUR Thousand | 0.596 B USD 4Q/19


Budget Indicators

Indicator Data Period
Government Debt to GDP 35.9 % 2018
Government Budget Value 36911844 EUR | 0.04 USD Billion Feb/20
Government Spending 1458977 EUR Thousand | 1.585 USD Billion 4Q/19
Government Debt 11031 EUR Million | 11.98 USD Billion 3Q/19
Government Revenues 1081767 EUR Thousand | 1.175 USD Billion Feb/20
Fiscal Expenditure  978056 EUR Thousand | 1.062 B USD Feb/20
Government Budget to GDP -1 % 2018
Government Spending to GDP 38.5 % 2018
Military Expenditure 629 USD Million | 0.629 B USD 2018


Inflation Indicators

Indicator Data Period
Consumer Price Index (CPI) 110 index points Mar/20
Export Prices 104 index points Jan/20
Food Inflation 3.5 % Mar/20
Gasoline Prices 1.24 USD/Liter Mar/20
GDP Deflator 1.1 % 4Q/19
Import Prices 96.2 index points Jan/20
Inflation Rate YoY 1.4 % Mar/20
Producer Prices 105 index points Feb/20
Inflation Rate Mom 0.3 % Mar/20
Core Consumer Prices 107 Index Points Feb/20
Core Inflation Rate 2 % Feb/20
CPI Housing Utilities 108 Index Points Mar/20
CPI Transportation 104 Index Points Mar/20
Harmonised Consumer Prices 109 Index Points Feb/20
Producer Prices Change  -1.9 % Feb/20


Trade Indicators

Indicator Data Period
Current Account to GDP -1 % 2018
Balance of Trade -93 EUR Million | -0.101 USD Billion Jan/20
Capital Flows 145000 EUR Thousand | 0.157 USD Billion 4Q/19
Current Account 180 EUR Million | 0.195 USD Billion Jan/20
Exports 1073 EUR Million | 1.165 USD Billion Jan/20
External Debt 35398 EUR Million | 38.444 USD Billion 4Q/19
Foreign Exchange Reserves 4173 USD Million | 4.173 USD Billion Feb/20
Imports 1166 EUR Million | 1.266 USD Billion Jan/20


Money Indicators

Indicator Data Period
Bank Lending Rate 3.92 % Nov/19
Gold Reserves 6.62 Tonnes 4Q/19
Interbank Rate 0.17 % Apr/20
Interest Rate 0 % Mar/20
Loans to Private Sector 4611 EUR Million | 5.008 USD Billion Feb/20
Money Supply M0 10189 EUR Million | 11.066 USD Billion Feb/20
Money Supply M1 12993 EUR Million | 14.111 USD Billion Feb/20
Money Supply M2 15628 EUR Million | 16.973 USD Billion Feb/20
Central Bank Balance Sheet 18702 EUR Million | 20.311 B USD Nov/19
Foreign Direct Investment 209 EUR Million | 0.227 B USD Dec/19


Labor Indicators

Indicator Data Period
Minimum Wages 430 EUR/Month | 467.006 USD/Month 4Q/19
Retirement Age Men 63.25 2018
Retirement Age Women 63.25 2018
Unemployment Rate 6 % 4Q/19
Wages 846 EUR/Month | 918.806 USD/Month Dec/19
Youth Unemployment Rate 10.8 % Feb/20
Employed Persons 913 Thousand Person | 0.913 Million Person 4Q/19
Employment Change  1 % 3Q/19
Employment Rate  65.4 % 4Q/19
Full Time Employment 801 Thousand Person 3Q/19
Job Vacancies 27316 | 27.316 K 4Q/19
Labor Force Participation Rate 69.9 % 3Q/19
Long Term Unemployment Rate 2.2 % 3Q/19
Part Time Employment 76.6 Thousand Persons 3Q/19
Unemployed Persons 58247 Persons | 0.058 Million Persons Feb/20


Taxes

Indicator Data Period
Corporate Tax Rate 20 % 2018
Personal Income Tax Rate 31.4 % 2018
Sales Tax Rate 21 % 2020
Social Security Rate 35.09 % 2019
Social Security Rate For Companies 24.09 % 2019
Social Security Rate For Employees 11 % 2019


Production Indicators

Indicator Data Period
Electricity Production 581 GWh Dec/19
Industrial Production 0.8 % Feb/20
Mining Production 16.7 % Feb/20
Industrial Production (MoM) 3 % Feb/20


Business Indicators

Indicator Data Period
Business Confidence 3.8 index points Feb/20
Corruption Index 56 index points 2019
Corruption Rank 44 place 2019
Ease of Doing Business 19 place 2019
Manufacturing Production -0.9 % Feb/20
Competitiveness Index 66.98 Index Points 2019
Competitiveness Rank 41 2019
Economic Optimism Index 104 Index Points Dec/19


Consumer Indicators

Indicator Data Period
Consumer Confidence -10 index points Feb/20
Retail Sales MoM 3.5 % Feb/20
Retail Sales YoY 5 % Feb/20
Consumer Credit 509 EUR Million | 0.56 USD Billion Dec/18
Consumer Spending 4101333 EUR Thousand | 4.454 USD Billion 4Q/19
Households Debt To Income 33.47 % 2018


Housing Market

Indicator Data Period
Construction Output -0.6 % 3Q/19


Government Debt
dept_icon
11.98
USD Billion
#49 from 65 countries
Balance of Trade
balance_icon
-0.101
USD Billion
#90 from 173 countries


Gold Reserves
gold_reserve_icon
6.62
Tonnes
#79 from 114 countries
Foreign Exchange Reserves
gold_reserve_icon
4.173
USD Billion
#87 from 114 countries


Government Budget Value
balance_icon
0.04
USD Billion
#113 from 113 countries
Inflation Rate
inflation_icon
1.4
%
#78 from 174 countries


Interest Rate
discount_rate_icon
0
%
#147 from 159 countries
Bank Lending Rate
credit_rate_icon
3.92%
#30 from 55 countries


Unemployment Rate
unemployment_icon
6
%
#79 from 171 countries
Wages
salary_icon
918.806
USD/Month
#46 from 82 countries


Retirement Age
man_icon
woman_icon
63.25
63.25
men
women
Taxes
company_icon
private_icon
20%
31.4%
company profits
income of individuals


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